Business News

03.11.2010

Motorway Company DARS Takes Out 70M Loan

Ljubljana, 03 November (STA) - The state-run motorway company DARS has taken out a EUR 70m loan from Kommunalkredit Austria Bank, the company said on Wednesday. The loan will be used to finance construction of sections of the national motorway network.

The ten-year loan backed by a state guarantee has a fixed interest rate. By getting it, DARS has brought in all the funds envisaged for motorway development and maintenance in the company's annual plan for 2010.

The supervisory board of DARS gave consent for the loan at the beginning of October.

Established in 1993, DARS is responsible for management and maintenance of motorways in Slovenia. At the moment it manages and maintains a total of 606 km of motorways and expressways, 161 km of access roads and 27 km of rest areas.

In 2009 DARS generated EUR 272.4m in revenue and a net profit of EUR 12.9m. Its current debt stands at around EUR 4bn.